Ever bought a pair of shoes and been offered polish?
Or booked a flight online and seen offers for hotels, travel
insurance and car rental flash before you? Cross-sold items are
generally cheap(er) add-ons to the product you originally planned
to buy. The cheaper the add-on the easier it is for customers to
make a quick buying decisions. The product should also be an
obvious tie-in;- take too long to explain the item and watch
customers' eyes glaze.
Look at your products and pricing structure and see if there's scope for premium options you can up-sell. Opticians boost their profits by offering non-scratch, anti-shine or reactor lenses after customers have chosen their frames.
'Buy this, get this free' is not a new sales
vehicle; but if it ain't broke don't fix it. Bundling is big. Fast
food meal deals make upgrading from a burger to a meal a no-brainer
for many. It's the same wherever you go.
The profit margin on the bundled items is smaller, but it is still there. Occasionally, firms deliberately break-even on bundles in the hope that customers will buy more normal priced items. Check out you local supermarket for more details
In such austere times, your customers will be
looking for a bargain. Convince them to spend a little more by
offering free postage on bigger orders.
Work hard to bring customers back. Collect as much data about them as you can and
use social media and email to build an engaged community around
If you have useful information about customers you'll be able to target them with products and services they will actually want to buy.
For more information on how to sell more, click here
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